Payments

Cards, e-wallets and transfers are all necessary for merchants to attract younger consumers to recurring payments, writes Artem Tymoshenko, CEO of MaxPay.

Millennials -- a demographic credit unions badly want to capture -- are using P-to-P services to pay for drugs and gambling, and while CUs may not want their members paying for illegal activities with account-connected services, a growing number of institutions also want to be the FI of choice for legal drug businesses.

PSCU will provide processing and support services for 55 Corporate One CUs, representing nearly 100,000 cards and accounts.

Visa’s core mission is to crush cash, but its latest promotion rewarding businesses with a pile of money if they stop accepting cash altogether may be too little for this goal.

American Express is adding virtual account numbers to its business travel account service, saying it will provide businesses with more visibility and control of employee travel expenses.

Amazon wants you to marvel at its broad sales figures, but the details should be far more alarming to traditional retailers.

The card network would help offset the cost of adopting digital payment technology in exchange for no longer accepting cash payments.

Trump’s nominee for head of bank supervision at the Fed may tackle Volcker Rule revision; rising home prices and improved job market give borrowers more options as lines of credit reset.

Mobile and online P-to-P services may be the popular, mainstream payments service of choice for young people who don't prefer cash, but it also has a seedy underbelly, according to new survey data.

Information sharing is about to get much different in Europe, giving bank alternatives such as Klarna more to work with as they compete against the financial services establishment.

Advanced operating systems can run marketing and support services such as Apple Pay. Merchants would be well served to consider the diverse options of new terminals, writes Ben Wagner, director of solutions at Ingenico Group, North America.

Some merchants, issuers and processors are concerned that the card brands will tout their "ownership" of payment card prefixes as a basis for requesting that mobile transactions on their cards be routed to their networks and screened through tokenization services they provide.

PayPal is launching a cross-border trade service to help small and mid-sized businesses in the U.S. improve their international presence and sales.

WorldRemit is working with China-based handset maker Huawei Technologies to make WorldRemit’s money transfer service available on Huawei’s platform in Africa.

Among the sneakers, diapers and pet food for sale on Taobao, China’s biggest e-commerce platform, is a listing that may take up a little more space in the online shopping basket.

Agency rule would make it easier to sue banks, but Congressional Republicans likely to fight it; Trump nominates Randal Quarles as Fed’s vice chair for supervision.

Prepaid payroll companies are delivering new functionality and processes that enhance cardholder experience, writes Tal Clark, senior vice president and head of Money Network at First Data.

Much like the consumer retail acquisition market, business payment companies are expanding the appeal of transaction automation by tying it to international growth and value-added merchant services.

Many of Zelle's member banks and credit unions chose to migrate clearXchange users to the relaunched service. It's a potential convenience, but if executed without end-user awareness or consent it can irritate consumers.

On March 31, 2017. Dollars in thousands